Author/Editor: Richard Hemming, Axel Schimmelpfennig, Michael Kell.

Release Date:May, 2003

Fiscal problems have long been considered a central feature of financial--that is, currency, debt, and banking--crises. This paper addresses four questions: What are the fiscal causes of crises? more...

Author/Editor: Selma Mahfouz, Richard Hemming, Michael Kell.

Release Date:December, 2002

This paper reviews the theoretical and empirical literature on the effectiveness of fiscal policy. The focus is on the size of fiscal multipliers, and on the possibility that multipliers can turn more...

Author/Editor: Michael Kell.

Release Date:July, 2001

The paper assesses the United Kingdom's golden rule and debt rule against ideal characteristics of fiscal rules. It concludes that they are clearly defined; transparent in institutional more...